In this guide

  • Our verdict
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own.
Neo Mortgage
Interest Rate (APR)
Loan Term
5-year fixed rate
Min. credit score
Provincial availability
Not available in Quebec
All information about Neo Mortgage has been collected independently by Finder. Finder is not connected with Neo Financial products, and this page is not sponsored, endorsed or administered by, or associated with, Neo Financial. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Compare lenders to find the best rates and earn rewards when you close your mortgage with this online broker.

Neo offer fast digital mortgages with competitive rates. Apply online in just minutes to get a new mortgage or renew without having to leave your home. Enjoy dedicated support and a fast turnaround time.

Best for: Those looking to apply for a mortgage online and have the chance to earn rewards for signing on.


  • Fast online application
  • No commissions
  • Lock in rate for 120 days
  • Competitive rates


  • Work with select lenders only
  • No in-person service
  • 100% online closing is limited to a few provinces (AB, BC and ON)

In this guide

  • Our verdict
  • Your reviews

Get free expert advice to help navigate the mortgage process and close out your mortgage completely online. You'll even get the chance to when you close the deal.

How does Neo Financial work?

Neo is a Canadian financial company that leverages digital solutions to help save you money. The company is well known for offering a range of financial products such as Neo Credit, Neo Secured Credit and the Neo Account.

Now, Neo is branching out into the mortgage space by becoming a lender. It also offers expert guidance and incentives for you to seal the deal and close your mortgage online.

How is Neo different from a regular bank or traditional broker?

Neo is different from banks and traditional lenders for the following reasons:

  • Completely digital. Neo is 100% digital, so you can upload your mortgage documents, work with your lawyer and sign your closing papers without ever leaving your house.
  • Competitive rates. Neo Mortgage offers competitive rates, and you can even lock your rates in for 120 days.
  • Many financial products. You can sign up for multiple financial products, including a Neo credit card or savings account, all in one place.

What fees will I need to pay with my lender?

You may pay different fees for your Neo Mortgage. These may include the following:

  • Origination fees. Fees to set up or maintain your loan.
  • Closing costs. Third-party fees for services required to get a Neo Mortgage, such as appraisals and title insurance.
  • Early repayment fees. Fees to make early repayments on your loan.
  • Late payment fees. Costs associated with making late payments or missing your payments completely.

What are the benefits of getting a Neo Mortgage?

Enjoy the following benefits when you use Neo:

  • Fast application. Apply online in as little as 5 minutes and get pre-qualified instantly so that you know how much you can spend and at what rates.
  • Competitive rates. Get competitive interest rates – and lock in your rate for up to 120 days.
  • Dedicated support. All applicants get a human associate to assist with the process.
  • Completely online. Apply for and close your Neo Mortgage completely online without the need for in-person appointments (only in some provinces).

What to watch out for

  • 100% digital is limited. Digital closing is currently only available in Ontario, Alberta and British Columbia.
  • No in-person service. You won’t be able to visit Neo in person to discuss your mortgage needs, which can be tricky if you run into any issues. It’s fully digital, so you’ll need to be comfortable with that.

How does it work?

Visit the Neo Mortgage main page to start your application to pre-qualify and choose from 2 different application paths:

  1. Just getting started. Provide information on your current loan payments and credit score along with any other details relevant to applying for a mortgage.
  2. Have a specific home you want to purchase. Input information about the home you want to buy as well as info about your debts and income to generate an estimation of how much home you can afford.

Steps to follow once you pre-qualify:

Once you pre-qualify, you can follow these steps to finalize your application and close your mortgage:

  1. Enter your personal details and any supporting documents required to finalize your application.
  2. Get a quote to see how much you’re approved for.
  3. Compare loan terms and interest rates.
  4. Meet with your Neo Mortgage specialist and lawyer over the phone or online, and sign all your mortgage documents digitally to seal the deal.

Eligibility requirements

To apply for a Neo Mortgage, you need to meet the following criteria:

  • Be at least 18 years old (and 19 in some provinces)
  • Have a Canadian photo ID
  • Meet credit score requirements
Neo Mortgage services are currently not available to residents of Quebec. Neo is looking to expand to this market in the near future.

Required documents and information

  • Government-issued ID. You’ll have to show a government-issued ID like your driver’s licence or passport to prove your identity.
  • Proof of income. You may be required to prove that you can make your monthly payments using pay stubs and letters of employment.
  • Credit report. You’ll need to allow Neo to pull your credit report so that it can assess your creditworthiness.
  • Other financial information. You may have to provide a list of your debts and assets, along with proof that you can cover your down payment and closing costs.

Neo Mortgage upcoming features

Keep checking in with Neo to take advantage of these future opportunities:

  • Upgraded mobile app. Full digital servicing of your mortgage in the Neo mobile app.
  • Housing data. Insights into your home’s value and what prices look like in your neighbourhood.
  • Cash upgrades. Increase your odds of winning a bid with 100% cash offers or pay cash upfront to lower your interest rates.
  • More offers and rewards. Access one-click home insurance offers and lock in more and better rewards as Neo’s mortgage products evolve.

Compare mortgages in Canada

1 - 2 of 2
Name Product Interest Rate (APR) Loan Term Min. credit score Provincial availability
Homewise Mortgages
600 (recommended)
Homewise's personal advisors can get you mortgage rates from over 30 banks and lenders.
BMO Mortgages
5 Year Fixed Rate
All of Canada
Get up to $4,000 cash back with a new BMO fixed or variable rate closed term mortgage or Homeowner ReadiLine. Ends June 30, 2024.

Frequently asked questions

Your reviews

No reviews yet. Write a review
Go to site